Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among the top 20. The biggest debtor is Pakistan followed by Angola. Other African countries with huge debts to China are: Ethiopia, Kenya, Zambia, Egypt, Nigeria, Cote d’Ivoire, Cameroon, South Africa and Congo republic. It is not clear how much Zimbabwe... The post Top 20 countries in debt to China- Zimbabwe is not one of them first appeared on The Insider ..read more

The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says the country’s monetary policy statement released on 5 April has been well received by the market and is expected to ensure lasting stability, certainty and predictability in the exchange rate and inflation. In a statement released yesterday the central bank... The post Is Zimbabwe now on the right track? first appeared on The Insider ..read more

Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from a peak of 13.2517 on 24 April but central bank governor John Mushayavanhu is optimistic it will pick up when companies start paying their quarterly taxes at the end of June, which is less than two months away. It kicked... The post Watch: RBZ governor warns those selling ZiG at 20:1 could be buying it at 10:1 in June first appeared on The Insider ..read more

The United States lost its place as the most influential global power in Africa last year as its star status dimmed and other countries -China in particular- gained fans. A new Gallup report shows median approval ratings of Washington — indicative of the country’s soft power — slipped from 59% in 2022 to 56% in... The post US loses its place as most influential power in Africa to China first appeared on The Insider ..read more

The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in small amounts like US$5 or US$10 cannot destabilise the country’s new currency the Zimbabwe Gold (ZiG), but they are being arrested because what they are doing is illegal. According to the Manica Post, Mushayavanhu told businessmen in Mutare that changing... The post Zimbabwe central bank chief says street forex dealers cannot destabilise the ZiG first appeared on The Insider ..read more

The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the Bulawayo exhibition grounds into a mixed-use commercial development. Property developer Terrace Africa will develop a shopping complex as the first phase of the project. Under the plan, the fairgrounds will be renamed the Zimbabwe International Conference and Exhibition Smart City... The post Zimbabwe International Trade Fair plans to turn exhibition centre into commercial complex first appeared on The Insider ..read more

Zimbabwe’s new currency today fell against the United States for the first time since its launch on 5 April. The ZiG, which is backed by gold and other minerals, has been appreciating against the greenback since it started trading on 8 April rising from 13.5616 to 13.2517 yesterday. It dropped to 13.3811 today. Zimbabwe is... The post ZiG falls against US dollar first appeared on The Insider ..read more

Zimbabwe’s new currency has wiped out a more than 330% gain on the stock market this year, leaving investors dealing with the fallout. The Zimbabwe Stock Exchange All Share Index fell 99.95% since the introduction of ZiG, short for Zimbabwe Gold, on 5 April. The gold-backed ZiG succeeded the Zimbabwe dollar which had lost 80%... The post ZiG plays havoc on the Zimbabwe Stock Exchange first appeared on The Insider ..read more

One bane of recent public discourse in Zimbabwe is not only that it is never about ideas or issues but it is invariably about ‘good guys’ versus ‘bad guys’ – depending on their real or perceived political affiliation – but also that it entirely proceeds on a weird presumption that if you agree with or... The post Jonathan Moyo tells Mushayavanhu to stick to monetary policy and leave money changers to the police first appeared on The Insider ..read more

Zimbabwe’s new currency kicked off its third week on a stronger note raising questions as to who is manipulating the currency on the black market. The ZiG which kicked off at 13.5616 on 8 April today averaged 13.2889 with the buy rate at 12.9567 and the sell rate at 13.6211. The sell rate on 8... The post ZiG kicks off third week on a stronger note first appeared on The Insider ..read more